Defect Rate For Closed Mortgages Continued to Fall in Q2

December 20, 2019   |   Article

By Patrick Barnard - 

The rate of critical defects in closed mortgages dropped to 1.72% of all loans sampled for ARMCO’s second quarter Mortgage QC Trends Report. That’s a drop of 5.5% compared with the first quarter. It’s also the second consecutive quarter that the overall rate of defects decreased.

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